Intellectual Capital Disclosure, Financial Performance and Value of Listed Manufacturing Companies in Nigeria

Oluwamayowa Olalekan  IREDELE; Okwy Peter  OKPALA; Taiwo Blessing  ABIALA

Oluwamayowa Olalekan IREDELE University of Lagos
Okwy Peter OKPALA University of Lagos
Taiwo Blessing ABIALA

Keywords: Intellectual capital, disclosure, financial performance, firm value.

Abstract

The study systematically analyzed the effect of intellectual capital disclosure (IC) on the financial performance and value of listed manufacturing firms in Nigeria. IC as used in this study consists of the aggregate of human capital (HC), relational capital (RC), and structural capital (SC). The study utilized data for a sample of 26 listed manufacturing firms listed on the NGX from 2018 to 2022. Regression was carried out on the data. The findings depict low IC disclosure among firms. Also, while ICD significantly impacted financial performance, there was no such evidence with respect to value of the firms. Hence, companies should adopt a more structured and comprehensive approach to intellectual capital disclosure as it contributes positively to firm financial performance.